COPPER, COBALT, SILVER AND GOLD PROCESSING PLANTS COMING TO ZAMBIA

Now Import and Export Zambia Limited, a Private Limited Company with 90 percent South African and 10 percent Zambian Shareholding, plans to initially invest US$ 20 million for setting up Copper, Cobalt, Silver and Gold Processing Plants in Chongwe and Mkushi Districts of Zambia.
The investment venture is expected to create 1210 jobs. Ninety percent of the jobs will be for Zambians.

Now Import and Export Zambia Limited will conduct its mining activities in three phases. The first phase will focus on trading for one year to create a base with local suppliers, setting up six buying stations across Zambia, setting up a new Copper Processing Plant (Concentrate, Cathode and Blister), setting up a Gold Processing Plant, setting up a Zinc Processing Plant, preparation to set up 10 mobile mining sites for surface mining, preparing portfolio for investment into exploration of gold, copper and cobalt mining.

The second phase of the business venture, which will require investment of about US$ 2 million to US$ 10 million in both cash and equipment, will involve direct investments in suitable mines, ranging from small to large mines while the third phase will focus on consolidation and expansion of the operations and investment.

In a separate endeavour, Now Import and Export Zambia Limited has submitted an expression of interest to the Ministry of Mines to operate Mopani Copper Mines Limited. As part of the local business development programme, the investor has committed to prioritize local business enterprises for procurement contracts, formulation and implementation of a well-structured knowledge and skills transfer programme that will ensure that foreign expatriates are only engaged for a limited period of time during which they will be attached to or paired with local workers for skills transfer purposes.

Now Import and Export Zambia Limited also pledged to construct at least one clinic at each of its mining and mineral processing sites to cater for both company staff and the community, with yearly donations of medicines and beds. Further, the investor pledged to construct 1 x 3 classroom blocks at each of its sites for the surrounding community with yearly donations of textbooks and chalk.

Now Import and Export Zambia Limited also committed to informing the Zambia Development Agency (ZDA) on the implementation and results of the local business development programme through submission of a progress report by December 31st of every year. The company has since signed an Investment Promotion and Protection Agreement (IPPA) with ZDA.

Commenting on the investment during the IPPA Signing Ceremony, ZDA Board Chairperson Bishop David Masupa stated: “I am glad to inform you that ZDA is keen to facilitate actualization of the proposed investment ventures because we believe that they will contribute to accelerating industrialization and deepening economic diversification, which will spawn job creation and spur generation of wealth including foreign exchange earnings through non-traditional exports. We are pleased to note that NIEZ Limited has responded positively to an invitation from the Zambian Government to foster long term symbiotic partnerships between foreign investors and local Zambians.

Now Import and Export Zambia Limited Chief Executive Officer Bryan Bouwer thanked ZDA for facilitating the investment and signing of the IPPA.
Meanwhile, ZDA Director General Mukula Makasa noted that the investment was in line with government’s agenda of diversification of the mining sector through value addition to steer structural transformation.